The Barter Network
{{cleanup |reason=sparse|date=September 2018}}
{{Infobox company
|name = The Barter Network
|logo = The Barter Network logo.svg
|type = Private Company
|foundation = 2006
|location_city = Winter Park, Florida
|location_country = United States
| key_people = G. Jason Bergenske,
President & CEO
|revenue={{profit}} US $4.2 Million (2010)
| industry = Barter & Alternative currency
| products = Financial services
|homepage = [http://www.TheBarterNetwork.net/ www.TheBarterNetwork.net]}}
The Barter Network is a commercial trading network of companies in the United States founded in 2006 by Bergenske Enterprises, Inc. of which G. Jason Bergenske, President and CEO owns 100% of the corporation's shares. The Barter Network has grown to over 700 companies. These companies trade among each other using a medium of exchange called a trade dollar.
Operation
Upon joining the TBN network, members agree to accept TBN Trade Dollars, instead of USD legal tender, when they sell to another TBN member. The trade dollars are electronically (via telephone or internet) transferred by the seller from the buyer’s trade dollar account. TBN members also agree to sell their goods and services on par with their cash everyday selling price.
History
The Barter Network originally opened its doors in 2006 in Sanford, Florida just outside Orlando. In November 2007 they outgrew their offices and moved to Winter Park, Florida.http://www.thebarternetwork.net TBN Press Releases
Corporate governance
Growth
Their trade volume for 2006 was $786K
Their trade volume for 2007 was $1.06 million in 2007.http://barternews.com/tuesday.htm Barter News Tuesday Report
Their trade volume for 2008 was $1.8 million, an increase of 58% over $1.06 million in 2007.http://barternews.com/tuesday.htm Barter News Tuesday Report
Their trade volume for 2009 was $2.7 millionhttp://barternews.com/tuesday.htm Barter News Tuesday Report
Their trade volume for 2010 was $4.2 million
Media Interests
NEWS ARTICLE: A bartering boom has hit Central Florida as Orlando-area businesses try to survive in today's economy using The Barter Network system.http://www.clickorlando.com/money/19334118/detail.html WKMG 6 News, Newspaper Story on TBN
ON TELEVISION: A bartering boom has hit Central Florida as Orlando-area businesses try to survive in today's economy using The Barter Network system.http://www.clickorlando.com/money/19334118/detail.html#video WKMG 6 News, TBN seen on TV
Tax implications
In the United States, it is generally not possible to avoid income taxes by bartering one's services. According to the IRS, "The fair market value of goods and services exchanged must be included in the income of both parties."[https://www.irs.gov/taxtopics/tc420.html Tax Topics – Topic 420 Bartering Income] The barter in many cases must be reported on Form 1099-B and Schedule C.https://www.irs.gov/businesses/small/article/0,,id=113437,00.html Barter Exchanges
Industry associations
- International Drive Chamber of Commerce.[http://www.internationaldrivechamber.com/PDF/Weblinks.pdf Member of International Drive Chamber]
- Central Florida International Chamber of Commercehttp://www.centralchamber.org/barter.html Member of Central Florida International Chamber
- World Connect Chamber of Commerce
See also
References
{{Reflist|2}}
External links
- [http://www.TheBarterNetwork.net The Barter Network]
- [http://www.irta.com International Reciprocal Trade Association]
- [http://www.nate.org National Association of Trade Exchanges]
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Category:Banking in the United States
Category:Banking organizations
Category:Organizations based in Florida